Lead Story Picture
Former New York Assembly Speaker Sheldon Silver leaves court with his legal team after jurors took a break in his federal corruption trial on Nov. 25. (Credit: AP)

BREAKING: Sheldon Silver Convicted In Corruption Trial

A New York jury on Monday convicted former New York Assembly Speaker Sheldon Silver on corruption charges for what prosecutors say was a scheme to gain nearly $5 million in referral fees from a cancer doctor and real estate developers in exchange for legislative action and state funding.

  • RBC Liable Over Rural/Metro Sale, Del. High Court Says

    The Delaware Supreme Court affirmed Monday that RBC Capital Markets is liable to Rural/Metro Corp. shareholders for nearly $76 million, finding the bank pushed the ambulance company’s directors into a hasty and lowballed sale to Warburg Pincus LLC.

  • Standard Bank Inks UK's First Deferred Prosecution Accord

    U.K. authorities on Monday won court approval of their first-ever deferred prosecution agreement, which will see a former subsidiary of South Africa’s Standard Bank Group Ltd. pay $32.2 million in sanctions over a payment two former employees allegedly made to bribe members of the Tanzanian government.

  • BREAKING: Giant LA Development Blocked Over Enviro Concerns

    The California Supreme Court sidelined a massive mixed-use residential project along portions of a river north of Los Angeles, ruling Monday that the state improperly found greenhouse gas emissions would have no significant impact and that a plan to move endangered fish was flawed.

  • China Probes 3 Brokerages In Margin Finance Crackdown

    Chinese securities regulators have commenced investigations into three top brokerages, Citic Securities Co., Haitong Securities Co. and Guosen Securities Co., over suspected violations of rules on margin financing and short-selling, according to filings made by the firms on Sunday.

  • Federal Reserve Rule Limits Emergency Lending Powers

    The Federal Reserve on Monday put in place a Dodd-Frank Act-mandated rule that would restrict its ability to lend to banks in a crisis, including a requirement that any false statements made by an individual or firm to get such loans be referred to law enforcement agencies.

  • Incompetence Claims Motivated By Money, Redstone Attys Say

    Media mogul Sumner Redstone's attorneys fired back in California court Wednesday at a lawsuit filed by his ex-caretaker Manuela Herzer claiming he's a “living ghost” who can no longer care for himself, saying Herzer's bid for reinstatement as his health care agent is about “her personal financial agenda.”